123 Squirrel Ln Ormond Beach, FL 32174
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About this home
Quality meets opportunity seldom seen with an ASSUMABLE VA LOAN of $860,000 at a 2.375 percent interest rate!! Crafted by a local builder as their personal residence, this exquisite property rests within the gated community Estates of Ormond Lakes. From its lush, manicured landscaping to its distinguished architectural details, every aspect exudes sophistication and warmth. Custom ornate steel doors open to a grand living area with soaring 14+ foot ceilings, rich wood flooring, stepped crown molding, and triple sliders framing views of the sparkling pool with its remarkable multi-level waterfall feature. At the heart of this home lies an extraordinary chef's kitchen, showcasing 42' ivory & cappuccino cabinetry, quartz and granite counters, tile backsplash, a Thermador gas range, GE Monogram commercial-grade refrigerator with custom panels, beverage fridge, new microwave, dishwasher, & a spacious walk-in pantry. The kitchen flows seamlessly into the elegant dining area and family room featuring custom woodwork and a wet bar, all overlooking the covered lanai, pool, and spa - creating an effortless setting for refined entertaining. The primary suite is a sanctuary of calm, privately tucked away with a sitting area, sliders opening to the pool, two walk-in closets with custom shelving,and a luxurious bath designed for relaxation and rejuvenation. At the front of the home, a versatile office, den, or bedroom with a bay window also serves as the central hub for the hard-wired security system accommodating up to 32 cameras. Two en suite guest rooms are positioned off the family room - one offering pool access, the other opening to a private garden courtyard for moments of quiet retreat. Beyond the kitchen, a well-appointed laundry and mudroom leads to a separate versatile suite with a walk-in closet, full bath, and kitchenette, ideal for guests, a media room, or private workspace. Throughout, you will find dramatic ceiling details, elegant plantation shutters, wood flooring, enhanced trim, upgraded lighting fixtures, and refined finishes that speak to the quality of this remarkable home. Additional highlights include a whole house generator, central vacuum with new motor and components, three-zone HVAC, landscape lighting, and plumbing ready for an outdoor kitchen. The expansive 851 sq ft FULLY climate-controlled attached garage features two large storage closets and a brand-new gym, while a detached 318 sq ft garage offers abundant built-in storage for hobbies or seasonal needs. Ormond Lakes is renowned for its natural beauty and amenities that promote an elegant outdoor lifestyle with scenic sidewalks, pickleball and tennis, community pool and clubhouse, and tranquil lakes brimming with wildlife. With effortless access to I-95, and moments from pristine beaches, fine dining, and recreation, this home offers a rare opportunity to experience timeless elegance and gracious living. Room sizes are approximate; all information obtained through public records and tax rolls and is intended to be accurate but cannot be guaranteed.
Source: STELLAR #V4943744
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.